The Debts Recovery Tribunal disposed off a securitisation application seeking relief under banking recovery laws. The court allowed the bank to take further legal action as per law following account regularisation.
The Securitisation Application stands disposed off; respondent-bank is at liberty to take action as per law.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET
| 17 Sr |
.11.202 . No.64 |
3 SA No.375/2022 |
|---|---|---|
| Classifi cation |
No. of Exh. |
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| SECURITISATION APPLICATION No.375/2022 | ||
| Nanasaheb Chandar Chaudhari ..Applicant Versus Axis Bank ..Respondent None for the applicant. Mr. Wasif Shaikh h/for Mr. Mrigesh Narwadkar – Advocate for respondent-bank. The matter is taken through Video Conference. |
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| 1. In this matter the learned counsel appearing for the respondent-bank submitted that the account has been regularised. He further submits that though the account has been regularised but as per the RBI Guidelines it will remain as NPA status for one year and in case the default across in between they may be permitted to continue with the securitisation action. |
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| 2. In these circumstances this Securitisation Application shall be disposed off. |
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| 3. In view of the above, I pass the following order through video conferencing. |
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| ORDER | ||
| A. The Securitisation Application No.375/2022 stands disposed off. |
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| B. The respondent-bank will be at liberty to take action as per law. C. File be consigned to the record room. |
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| (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad |
[SBJ] (SA No.375/2022) Page 1 of 1
Nanasaheb Chandar Chaudhari
Axis Bank
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
